M&A Deal Summary

TDR Capital Acquires Jollyes

On February 28, 2024, private equity firm TDR Capital acquired retailer Jollyes from Kester Capital

Acquisition Highlights
  • This is TDR Capital’s 3rd transaction in the Retail sector.
  • This is TDR Capital’s 18th transaction in the United Kingdom.

M&A Deal Summary
Date 2024-02-28
Target Jollyes
Sector Retail
Buyer(s) TDR Capital
Sellers(s) Kester Capital
Deal Type Secondary Buyout
Advisor(s) PwC Corporate Finance (Financial)

Target

Jollyes

Waltham Abbey, United Kingdom
Jollyes is a large UK pet retailer. Jollyes has a growing portfolio of over 70 retail park superstores and concessions in garden centres across the UK. Jollyes focuses on providing its loyal and growing customer base with pet products and services that combine great quality and value. Jollyes has recently expanded its offering to customers to include grooming and veterinary services in store. Jollyes was founded in 1935 and is based in Waltham Abbey, United Kingdom.

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Buyer(S) 1

Buyer

TDR Capital

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2002
PE ASSETS 15.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

TDR Capital is a private equity firm that targets large companies valued from €300 million to €1.5 billion. TDR has a particular interest in under-managed, under-invested or misunderstood companies which may be transformed through greater strategic and operational focus. TDR is sector agnostic, however the Firm has a preference for opportunities in the leisure/hospitality, financial services, and business services sectors. TDR Capital was formed in 2002 and is based in London.

DEAL STATS #
Overall 30 of 32
Sector (Retail) 3 of 3
Type (Secondary Buyout) 5 of 6
Country (United Kingdom) 18 of 18
Year (2024) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-01 Popeyes

London, United Kingdom

Popeyes is one of the world’s most recognised QSR brands, famous for its Louisiana style fried chicken and the brand’s signature chicken sandwich. Popeyes is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-14 Applus+

Madrid, Spain

Applus+ is a global certification company specializing in testing, inspection, certification, and technological services. Applus+ was incorporated in 1996 and is based in Madrid, Spain.

Buy €1.7B

Seller(S) 1

SELLER

Kester Capital

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2007
Size Small
Type Sector Agnostic
DESCRIPTION

Kester Capital is a private equity firm focused on middle-market company investments in the UK. The Firm looks to invest a minimum of £5 million in businesses valued up to £100 million. Kester Capital was originally established in 2007 as Greenhill Capital Partners Europe, the European private equity arm of Greenhill & Co Inc. Kester Capital is based in London.

DEAL STATS #
Overall 9 of 10
Sector (Retail) 1 of 1
Type (Secondary Buyout) 5 of 6
Country (United Kingdom) 5 of 6
Year (2024) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-12 Vixio Regulatory Intelligence

London, United Kingdom

Vixio Regulatory Intelligence is a provider of regulatory and business intelligence to the global payments and gambling industries. Through its Payments Compliance and Gambling Compliance subscription products, the company enables regulatory and legal teams around the world to manage risk confidently and discover new market opportunities by providing in-depth information, data, and analysis. Vixio Regulatory Intelligence is based in London, United Kngdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-24 Atec Group

Chipping Norton, United Kingdom

Atec Group delivers omnichannel solutions focussed on niche and non-standard insurance distribution. Atec Group is based in Chipping Norton, United Kingdom.

Sell -
Mergr

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